Nowadays most tenants come from zillow and its affiliates. 

Commercial loans are extremely difficult to come by nowadays and throw in non recourse would make it that much harder.

@Joe Boczenowski- thanks ...1) loan pricing for a rental proeprty and a 2nd ( vacation home )  are  the same  nowadays 2) the down payment for a 2nd home can be as low as 10% of the price  and  15% for a 1 unit rental property .....3)  if you plan to  use the property for yourself  buying it as a 2nd home should be OK  4)  if buying as a 2nd home - you will need to qualify with  100% of the new payment being added to your  debt/ income  ratio ...whereas buying as a rental - you can use part of the rental income for the new property to help offset the new mortgage payment  5)  make sure the insurance policy remains as a  2nd home dwelling   6) if you buy a condo - make sure the HOA allows  STRs or  2nd homes 

I won't speak for other cities, but here in Orlando if you buy a 200k SFH, you can reach the 1% rule nowadays.

For the same price nowadays as a nice 1BR/1BA house. 

The only thing I can think of for not allowing or approving (section 8) is based on income, that has yet not hit the mainstream media of being discriminatory but nowadays moving more to a socialist path I can see in the future governing officials even pushing that into the law, and telling you how much rent to charge. let them come in and inspect the home, they find anything I revert back to my city inspections approving my property (As a Rental), I also revert back to no obligation to do any repairs to approve the voucher if I do not need or want to.

@Doug Smith which banks would you recommend for a HELOC nowadays?

Nowadays I'm seeing roughly 9-12% cost of capital when partnering with other individuals in the form of borrowing private money.

Do things like this become available nowadays?

Nowadays, I only tackle projects that require cosmetic work and/or simple remove and replace type of issues.